| |
| |
|
Credit Information |
|
|
|
My Student Credit Card Adventure
And some practical advice too! My first credit card? I remember my college days when it seemed there was a credit card advertisement on practically every bulletin board on campus. The banks would travel to the college and set up application booths on registration day. Hundreds of students would apply for a credit card. As an enticement, we were offered freebies like T-shirts, water bottles, and key chains. So I took whatever they were handing out. You can't beat free. The next thing I knew, I had signed on the dotted line. It wasn't long before that little plastic card arrived in the mail. It was time to establish my credit history. I was off to the mall. Life was good! Stuff happens? I made my student credit card the solution to all my financial emergencies when I attended college. Needless to say there were plenty of them. There were tuition bills, school supplies, car repairs, and midnight pizzas to pay for. The old saying was true. "When they've got you, they've got you". That little piece of plastic bailed me out of more financial predicaments than I could count. I honestly don't know what I would have done without it. The student credit card "thing" was a pretty cool idea. My day of reckoning? The monthly statements arrived one after another. I had been in the habit of making the minimum payment and ignoring the bottom line. Not a good idea. All those credit card purchases left me with a pretty hefty balance. The finance charges were mind-boggling. It was time to take action. I started to allocate more of my monthly income toward my credit card bill and phased out frivolous purchases. My balance actually began to dwindle (Thank God). I developed a better understanding of what credit cards are intended to be. They're certainly not free money! Put simply, they're a convenient loan that has to be repaid. A word to the wise? When applying for a credit card, students need to consider the fees involved. Take a hard look at the finance charge, annual fee, and late payment fee. Shy away from cash advances if possible. Consider a low limit credit card. Do a comparison and search for competitive rates. Study your card agreement thoroughly. If you don't understand something, call customer service. Ask questions. Set up a realistic budget and follow it closely. Avoid impulse shopping on your credit card. Try to use the card only in real emergencies. Try to pay your bill promptly and keep your finance charges to a minimum. This will help you to establish a good credit history. You may also want to consider using a debit card. The money is deducted right out of your checking account. This way you can't spend more than you have. Remember to approach credit cards sensibly. When used properly, they can be a real lifesaver! Don Yacono is a Publisher and Webmaster at Credit Cards Made Easy .com Visit his website at http://www.credit-cards-made-easy.com to view all the up to the minute credit card and financial news from around the world. Visit now to apply online for the best low interest credit cards and payday loans.
MORE RESOURCES:
credit - Google News |
|
|
|
RELATED ARTICLES
The FICO Score Misconceptions There are many misconceptions about credit scores out there. There are borrowers who believe that they don't have a credit score. Credit Reporting: How Does It Work? In order to determine a consumer's credit worthiness, creditors and lending institutions have come to depend on credit reporting agencies. Credit reporting agencies supply individual reports that provide consumer specific information for lending purposes. Rate Tarts Losing Ability to Cherry Pick A "rate tart" is someone who switches from one zero per cent introductory credit card deal to another to avoid paying interest; however they may be set to become something of the past. Recently a number of the major credit card companies, including Egg, Barclays, the Royal Bank of Scotland and MBNA have introduced transfer charges for people who want to shift their outstanding credit card balances to a new card to take advantage of a zero per cent introductory rate. 19,178 Identity Theft Victims Per Day - Are You One Of Them? Identity theft statistics are shocking. And we are told that it will only become worse, before it gets any better. Credit Report - Look Out for Your Debit Report, Too Most consumers are aware that there are companies that keep track of their personal financial transactions - installment loans, mortgages, credit card accounts, bankruptcies and judgements. These items are assembled by the three main credit bureaus into a credit report, which is available upon request by lenders, employers and anyone else with whom a consumer might do business. SuperCharged Secret 4, Credit Card Utopia YOU SCRATCH MY BACK, AND I'LL BUY SOME MORE BEER!Let's just take a brief moment to recap:If you've been following along on this journey with me, learning the 5 Super-Charged secrets to Credit Card Utopia, then you now know 3 very important things:You now know how to take advantage of zero to low interest credit card offers.You now know that there is safety in numbers, and you know the magic "Who's Who" of the major credit card companies. Why Americans Find Predatory Lending Offensive "Menis - the author translates as "indignant rage" - It is the kind of rage arising from social betrayal that impairs a person's dignity through violation of "what's right." (p21), Achilles In Viet Nam - Combat Trauma and the Undoing of Character, Jonathan Shay, M. How Can A Qualified Mortgage Consultant Help Boost Your Credit Scores? Consumers interested in purchasing or refinancing a home will pay an interest rate based on current market conditions and their ability to pay back the loan. The borrower's income and debt ratios are taken into consideration by the lender, as well as the predictability factor provided by credit scoring. The Best Strategy To Erase Credit Card Debt Credit card debt is a growing sickness in the United States and Europe. It is very important to eliminate debt and take control of your financial health. Credit Card Is Adding The Silver Lining To Your Pocket In the new millennium plastic money or credit cards has rendered a new zing factor to your pocket. This has not only made you economically more flexible but subsequently added glamour to your financial image as well. How did a Thief get my Name? Don't be a Victim of Identity Theft How do these people get my name? If you have a credit card, your name is sold to third parties, if you do not want this to happen, you must contact your credit card companies to inform them that you do not want your information sold. Check the privacy notice that comes with your bill. Practical Suggestions for Protecting Yourself From Identity Theft It's no surprise that thousands of Americans are victimized by identity theft each year. Last year more than 9,000,000 people were victims of identity theft amounting to some $45 billion dollars. How To Save Money On Credit Cards Some credit cards offer a cash advance option. But how good a deal is this?Not very. Make Sure Your Credit Report Is Correct to Improve Your Interest Rates And Lower Insurance Premiums Did you know that you could make sure to get the best rates on your auto and homeowners insurance simply by having a good credit score.Additionally a great credit score will allow you to get the best interest rates on your credit cards, car loans and even your home mortgage. Credit Card Debt: How To Control It A lot of people spend more money than they can afford to repay toward their credit card debts. To regain control over your finances and to manage your debt, here are some solutions you can try. The Hitchhiker's Guide To Insanity A new sickness is plaguing the UK called Denial. Denial has resulted in a national personal debt of almost £1. Beginners Guide to Credit I remember back when I was 18 and completely oblivious to the concept of credit. It seems like eons ago! If only I had known then what I know now about credit. The Next Person With Credit Problems Got Their First Credit Card Today! One of the focus areas of my information is the absolute necessity of changing the way a person thinks about money and debt while in the process of repairing their credit. I have seen cases where a couple will work really hard for months, and finally get their credit report to the place they can borrow again and go out and buy something on credit just because they can. Cash Advance - How Does It Work? If you want a cash advance or a payday/paycheck loan, you usually get a personal check. Some companies use your bank account or credit card in addition to or instead of a check. Student Credit Cards 101 Almost all students have and use student credit cards. Some of the students use them wisely and build for them an early credit history but others accumulate lots of debts that would have to be paid off once the student life is over.
|
| Article List | Index | Site Map |
|
All logos, trademarks and articles on this site are property and copyright of their respective owner(s).
The comments are property of their posters, all the rest is Copyright © 2006 CanadaSEEK.com - All Rights Reserved. |
